JOHNSON CITY, Tenn. , November 1, 2022 (GLOBE NEWSWIRE) — Ballad Ventures, a healthcare venture capital subsidiary of Ballad Health, has selected Amit Fachist, MD, and Pam Austin as lead advisors. Dr. Vaschist is the chief clinical officer for Ballad Health, while Austin is the health system’s chief information officer.
Both leaders will help ensure that Ballad Ventures’ solutions will enhance patient care and the provider experience within Ballad Health, enhance public health and wellness in the Appalachian Heights and have the ability to reach patients and the health care delivery system nationally and globally.
“These roles are critical to Ballad Ventures, and we are fortunate to draw on the leadership and expertise of Pam and Dr. Vashist as we explore innovative solutions to the problems plaguing healthcare,” said Bo Wilkes, President of Ballad Ventures. “Each of these seasoned professionals brings a wealth of knowledge to help us explore the untapped potential of health and healthcare entrepreneurs within our health system, our community, and elsewhere across the country and the world.”
Dr. Vashist will act as Senior Clinical Consultant to facilitate direct communication between Ballad Ventures and Ballad Health’s clinical organization. The role will ensure that Ballad Ventures translates the healthcare needs of its business partners through direct clinical involvement.
“I am excited to use my clinical and industry expertise to craft an innovative approach that improves Ballad Health and the entire healthcare industry,” said Dr. Faschist. “I want to make sure that we make the best use of our clinical resources to serve our organization’s patients, caregivers, and strategic priorities, while setting a path for innovation and growth in healthcare.”
Dr. Vachist will work closely with Ballad Ventures and its portfolio companies to provide guidance and feedback, leveraging his clinical experience as a hospital physician and his professional experience as a healthcare leader and CEO.
“Dr. Faschist has helped Ballad Ventures obtain clinical insight and guidance since our inception,” Wilkes said. “We are thrilled to have him officially join the team to continue our growth as a corporate project company for Ballad Health.”
In addition to his roles with Ballad Health and Ballad Ventures, Dr. Vashist also serves on the Medicare Coverage and Evidence Development Advisory Committee (MEDCAC), which makes recommendations to CMS on specific clinical topics, such as whether certain medical items, technologies, treatments, and services are reasonable and necessary under the Care Act. health.
“It is a great honor to offer my expertise to look at the comprehensive picture of medical treatments, technologies, and devices focused on delivering exceptional clinical outcomes for our patients and communities,” said Dr. Vachist. “We’re finding a way forward in healthcare, and it’s very exciting to begin this work here in the Appalachian Heights.”
Pam Austin, a 25-year veteran of Ballad Health, joins Ballad Ventures as a senior information and technology consultant. The role will ensure that Ballad Ventures has experience and relationships within healthcare IT, as well as knowledge and experience with electronic health records and health data exchange at Ballad Health.
“Seeing how a robust investment and technology strategy can drive rural healthcare into the future gives me firm belief in the mission of Ballad Ventures,” Austin said. “I am ready to use my experience to benefit health care workers, patients and communities alike.”
Austin will work closely with the portfolio companies to provide guidance and feedback, and build on her current role and experience as Chief Information Officer at Ballad Health.
“Pam is an accomplished technology leader, and we are fortunate to have her in this role during this transformative time for Ballad Ventures,” said John Perez, Ballad Ventures Managing Director. “In an era of rapidly changing technology, her extensive knowledge and experience will help us take full advantage of our operational capability and technical support.”
Founded in 2020, six months after the launch of the Ballad Health Innovation Center, Ballad Ventures is the venture capital arm of Ballad Health, an integrated community health improvement organization serving 29 Appalachian Highlands counties in northeastern Tennessee, southwest Virginia, northwest North Carolina and Southeast Kentucky. Ballad Ventures has $25 million in assets under management and continues to invest strategically in initiatives designed to address Ballad Health’s digital strategy and workforce challenges.
More information about Ballad Ventures is available at www.ballad.ventures, and details about Ballad Health are available at www.balladhealth.org.
About Ballad Ventures
Ballad Ventures is a venture capital platform focused on investing in innovation ideas that transform healthcare experience, cost, access, and outcomes. As the venture capital arm of Ballad Health, the wholly owned subsidiary is looking for opportunities that drive the organization’s mission, vision and strategic initiatives.
Dr. Amit Vachist, M.D.